RBI lifts ban on Bandhan Bank network expansion
Updated : February 26, 2020 06:12 AM IST
The central bank in September 2018 had barred Bandhan Bank from expanding its network as the lender failed to reduce the promoters' stake to 40 percent from close to 82 percent within the stipulated three-year time frame of commencing operations.
Currently, the promoters' holding in the bank is 62 percent.
Bandhan Bank had commenced operations on August 23, 2015.